¹[Section 10A. Suspension of Initiation of corporate insolvency resolution process. –

Notwithstanding anything contained in section 7, 9 and 10 , no application for initiation of corporate insolvency resolution process of a corporate debtor shall be filed, for any default arising on or after 25th March, 2020 for a period of six months or such further period, not exceeding one year from such date, as may be notified in this behalf:

Provided that no application shall ever be filed for initiation of corporate insolvency resolution process of a corporate debtor for the said default occurring during the said period.

Explanation. – For the removal of doubts, it is hereby clarified that the provisions of this section shall not apply to any default committed under the said sections before 25th March, 2020.]

1 Ins. by Ordinance No. 9 of 2020 (w.e.f. 05-06-2020)